The financial regulator also says it will look closely at close to zero interest rates for loyal savers.
The Treasury Select Committee has consistently raised concerns about whether the rising Bank of England benchmark interest rate is being passed on in full to savers.from bank bosses to the committee, they point out the complexities of pricing, but stress that attempts have been made to encourage savers to look at all the available deals.
"Now we are intensely focused on ensuring our simplified product range delivers the right value for money to our customers," said its UK chief executive Matt HammersteinMeanwhile, Ian Stuart, chief executive of HSBC, said his bank had "a broad suite of savings products to support different goals". "We will expect firms to have a strategy to ensure their customers are adequately informed of available rates across their product set and how they may benefit from switching to an alternative," he said in a letter to the committee.In his letter, Mr Rathi said it would be considering "the question as to whether savings accounts for loyal customers which pay close to zero offer fair value" when new regulations come into force at the end of the month.
Belgique Dernières Nouvelles, Belgique Actualités
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